Councils Budget For 21% Increase In Spending On Housing

Housing will this year displace highways and transport as the largest area of council capital spending – following the lifting of the housing revenue account borrowing cap. The government has released figures showing English councils are predicting an overall 13% rise in capital spending in 2019/20 (to £28.0bn) compared to last year (£24.7bn). The data show that councils are budgeting for an increase in capital spending on housing from £5.9bn to £7.1bn – a rise of 21% over the provisional outturn for last year. With highways and transport capital spending set to fall from £7.1bn last year to £6.5bn, housing will now make up the largest of all budget areas. Read more on the Room 151 website.

https://www.room151.co.uk/treasury/councils-budget-for-21-increase-in-spending-on-housing/